Apple's tablet share is imploding

A new report from Strategy Analytics says that even though global tablet shipments are rising, Apple's tablet market share dropped by 15% last year, from a 74.2% share in 2013 to 63.4% in 2014.

"New products such as the iPad 12.9-inch Pro version cannot come quickly enough for Apple as it needs to re-ignite growth and demand in its Tablet products," Strategy Analytics service director Peter King says in the report.

Strategy Analytics says the leading tablet makers can no longer "rely on inertia alone" as other smaller players are beginning to offer cheaper tablets with competitive features. It still believes the enterprise and vertical markets will offer "considerable growth" in the coming years, but that's why Apple is partnering with IBM to make the iPad more business-friendly.

The iPad isn't doomed, but its future doesn't look great. We've seen proof that the new, bigger iPhones have begun cannibalizing the iPad, and even though tablet revenue is comfortably ahead of the Mac, trend data shows that could easily change over the next year or two. The iPad business is in decline, but it's a slow decline.

Apple CEO Tim Cook still believes in the iPad, though: Last month, he said the company's partnership with IBM could help "move the dial" with sales, and the rumored 12-inch iPad could certainly improve Apple's tablet market share, especially if it offers more features for advanced productivity.